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Board of DirectorsShri. Shaukatali S. Mewawala - Chairman & Managing DirectorShri. Bhagwan N. Bhardwaj - Non-executive Director Shri. Vazirali G. Lokhandwalla - Non-executive DirectorShri. Hasanain S. Mewawala - Non-executive DirectorShri Sajjadhussein Nathani - Non-executive DirectorShri Tribhuwan Nath Tripathi - Non-executive Director
Statutory AuditorsM/s Ketan N. Shah & Co.,Chartered AccountantsR-36, Guru Ashish Building,Zaveri Bazar, Mumbai-400 002
BankersThe Saraswat Co-operative Bank Ltd.SME Vile Parle (East) Branch,Bholanath CHS Ltd., Ground and First Floor,Subhash Road, Vile Parle (East),Mumbai – 400 057
Registered Office Works Expo House, A/10, MIDC, Murbad,150, Sheriff Devji Street, Dist.. Thane - 421401.Mumbai - 400 003Tel No: - 61319600Fax No: - 23401635
E-Mail: - egcl@expogas.com
Registrars and Share Transfer Agents Adroit Corporate Services Private Limited 19, Jaferbhoy Industrial Estate
ST1 Floor, Makwana Road, Marol Naka, Andheri (East),Mumbai - 400 059. Tel No: - 28594442,28594428 Fax: - 28503748
1
Company Details
Notice
Financial Highlights
Directors’ Report
Report on Corporate Governance
Auditors’ Certicate on Compliance with the Corporate
Management Discussion & Analysis Report
Auditors’ Report
Annexure To Auditors’ Report
Balance Sheet
Prot & Loss Accounts
Signicant Accounting Policies
Notes to Accounts
Fund Flow
Balance Sheet Abstract
Some of Our Valued Customers
1
2 - 3
4
5 - 8
9 - 19
20
21 - 23
24 - 25
26 - 28
29
30
31 - 32
33 - 42
43
44 - 45
46
NOTICE
Notice is hereby given that the Thirtieth Annual General Meeting of the thShareholders of the Company will be held on Monday, the 30 September 2013
at 11.00 a.m. at the Registered Office of the Company at Expo House, 150, Sheriff Devji Street, Mumbai - 400 003 to transact the following business: -
ORDINARY BUSINESS
st1. To receive, consider and adopt the Audited Balance Sheet as at 31 March 2013 and Profit & Loss Account for the year ended on that date together with the Reports of the Board of Directors and Auditors thereon.
2. To appoint a Director in place of Mr. Sajjadhussein Nathani who retires by rotation and, being eligible, offers himself for re-appointment.
3. To appoint Auditors and to fix their remuneration.
Place : MumbaiDated : 22.08.2013
(S. S. Mewawala)Managing Director
By Order of the Board For Expo Gas Containers Limited
NOTES
1. A MEMBER ENTITLED TO ATTEND AND VOTE IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF AND THE PROXY NEED NOT BE A MEMBER OF THE COMPANY. THE PROXIES IN ORDER TO BE EFFECTIVE MUST BE LODGED AT THE REGISTERED OFFICE OF THE COMPANY NOT LESS THAN 48 HOURS BEFORE THE COMMENCEMENT OF THE MEETING.
2. The Register of Members and the Share Transfer Book will remain closed rd thfrom Monday the 23 September 2013 to Monday the 30 September 2013
(Both days inclusive) for the purpose of Annual General Meeting.
3. Members are requested
(i) To bring their copy of Annual Report and Attendance Slip duly filled up and signed at the meeting.
(ii) To quote their folio / identification number in all correspondence with the Company or its Registrar and Share Transfer Agents.
(iii) Members holding the shares in physical form are requested to notify immediately for change of their address to the Company or its Registrar and Share Transfer Agents AND In the case their shares are held in dematerialized form, then information should be passed on directly to their respective Depository Participants and not to the Company or its Share Transfer Agents.
Details of Directors retiring by rotation at the forthcoming Annual General Meeting pursuant to Clause 49 of the Listing Agreement
Name of the Director Mr. Sajjadhussein Nathani
Date of Birth 26.10.1961
Date of Appointment 14.12.2009
Qualification B.Com
Directorship held in Indian Public
Companies as on 31.03.2013
Committee positions held in Indian
Public Companies as on 31.03.2013
Number of Shares held in the Company
NIL
NIL
NIL
32
sd/-
ParticularsAs On
31.03.2013As On
31.03.2012
(Rs. in Lacs)
Am
ou
nt
(in
lacs
)
Sales
EBIDTA
EBIDTA (%)
PBT
PBT (%)
PAT
PAT (%)
Debt
Net Worth
Debt / Euity Ratio
2,765.89
468.54
16.94
140.26
5.07
228.46
8.26
2,003.26
1,186.55
1.69
3,227.56
577.85
17.90
141.33
4.38
175.66
5.44
2,464.79
1,362.21
1.81
3,511.28
490.58
13.97
135.15
3.85
87.68
2.50
2,345.94
1,449.89
1.62
PARTICULARS 2010-2011 2011-2012 2012-2013
FINANCIAL HIGHLIGHTS
54
REPORT ON CORPORATE GOVERNANCE
Company's Philosophy on Corporate Governance
The Company's endeavor is to maximize shareholder value. Expo is committed to adopt the best governance practices and its adherence in true spirit at all times. It has strong legacy of fair, transparent and ethical governance practices.
The Company has adopted a code of conduct which is applicable to all employees. The Company also has in place a code for preventing insider trading.
The Company is fully compliant with the requirements of the listing agreements and applicable corporate governance norms and is committed to ensuring compliance with all modications within the prescribed time.
Composition and Category of Directors
The Board is headed by Mr. S. S. Mewawala, Chairman and Managing Director and is composed of eminent person with considerable professional experience in their respective elds. The present strength of the Board is six of which one Director is executive Director and others are non-executive & Independent Directors. The composition and strength of the Board meets with the requirements of the Clause 49 of the Listing Agreement. None of the non-executive Directors has any pecuniary relationship or transactions with the Company.
During the year under review 01.04.2012 to 31.03.2013, 8 (Eight) Board Meetings were held as under to deliberate on various matters.
1.2.3.4.
5.6.7.8.
09.04.201209.05.201220.07.201214.08.2012
29.08.201208.11.201219.11.201213.02.2013
Sr. No. Date of Board Meeting Sr. No. Date of Board Meeting
98
The Composition of the Board of Directors and their attendance at the Board Meeting during the year and at the last annual general meeting as also the number of Directorship in Indian Public Limited Companies are as follows: -
* Mr. Syed Abbas Ali resigned as a Director and Mr. Tribhuwan Nath Tripathi was appointed as an Additional Director w. e. f. 20.07.2012.
Note: -
1. CMD / P – Chairman and Managing Director and Promoter.
2. NED / I – Non-executive and Independent Director.
3. NED/P - Non-executive and Independent Director and Promoter
Board Agenda
Meetings are governed by structured Agenda. The Board Members in
consultation with the Chairman may bring up any matter for the consideration
before the Board. Agenda working papers are circulated to the members of the
Board at least seven working days prior to the date of the Board Meeting.
There is also a system of post meeting follow up, review & reporting process of
the action /pending on decisions of the Board or its committee till the nal
implementation stage.
Committees of the Board
The Board of Directors has constituted three Committees of the Directors with adequate delegation of powers to discharge urgent business of the Company. These Committees are Audit Committee, Shareholders'/ Investors' Grievance Committee and Remuneration Committee. The Committee meets as often as required. The details of the Audit Committee, Investor's Grievance Committee and Remuneration Committee are as follows: -
1. Audit Committee
I.) Terms of Reference
The terms of reference of the Audit Committee, covers the areas
specied in Clause 49 of the listing agreement of the Stock
Exchange and the applicable provisions of the Companies Act,
1956 as amended till date.
The Audit Committee reviews all the matters which were specied
in the earlier report of the corporate Governance inclusive of all
mandatory items. The thrive at the Company is to have more the
transparency in the unaudited as well as the audited results. The
committee's scope is increased looking into the objective of the
Company. The Committee's strength & say is increased all the
time.
ii.) Composition
The Audit Committee comprises at present of three Directors viz. Shri. Bhagwan N. Bhardwaj, Mr. Sajjadhussein M. Nathani and Shri. Vazirali G. Lokhandwalla.
During the year from 01.04.2012 to 31.03.2013 the Committee met ve times as under to deliberate on various matters as per terms of reference and attendance of the Members at the Meeting was as under: -
Mr. S. S. Mewawala
Mr. Bhagwandas Bhardwaj
Mr. Syed Abbas Ali *
Mr. Vazirali G. Lokhandwalla
Mr. Hasanain Mewwala
Mr. Sajjadhussein Nathani
Mr. Tribhuwan Nath Tripathi *
Name of Directors
No. ofBoardMeetingattended
Attendance atLast AnnualGeneralMeeting
CategoryofDirectors
OtherDirectorshipsin Public Co.
No. of Chairmanship / Membership of BoardCommittee in otherCompanyChairman Members
08
07
02
02
08
08
05
Yes
No
No
No
Yes
Yes
No
CMD /P
NED / I
NED / I
NED / I
NED / P
NED / I
NED / I
No
No
No
No
No
No
No
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
1110
2. Remuneration Committee
Though, the constitution of the Remuneration Committee is not mandatory since it is a part of the non-mandatory requirement of the Corporate Governance Code, the Company had constituted the Remuneration Committee comprising of Shri. B. N. Bharadwaj (Chairman), Shri Tribhuwan Nath Tripathi and Shri. Vazirali G. Lokhandwalla, (Members).
The Committee met on 09.04.2012 to decide the terms & conditions of reappointment of Shri Shaukatali S. Mewawala for a further period of 5 years effective from 01.04.2012.
Mr. Syed Abbas Ali resigned w. e. f. 20.07.2012 hence the committee met on 14.08.2012 and the committee was reframed as comprising of Shri. B. N. Bharadwaj (Chairman), Shri. Sajjadhussein M. Nathani and Shri. Vazirali G. Lokhandwalla, (Members).
i.) Remuneration Policy
The objectives of the remuneration policy are to motivate employees to excel in their performance, recognize their contribution, and retain talent in the organization and reward merits. The Company keeps on reviewing its policy in this regard.
ii.) Remuneration of Directors
12
3. Share Transfer & Investors Grievance Committee.
i.) Terms of Reference
The Committee oversees the performance of Adroit Corporate Services Private Limited, the Registrar and Share Transfer Agent of the Company and recommends measures to improve the level of investor related services. The Committee keeps a close watch on all complaints / grievances of the Shareholders.
stThere is no Investor's Grievance pending as on 31 March 2013.
Mr. S. S. Mewawala
Mr. Bhagwandas Bhardwaj
Mr. Syed Abbas Ali *
Mr. Vazirali G. Lokhandwalla
Mr. Hasanain Mewwala
Mr. Sajjadhussein Nathani
Mr. Tribhuwan Nath Tripathi *
Name of Director CategorySitting fees for Board& Committee Meetings
Executive
Non-Executive& Independent
Non-Executive& Independent
Non-Executive& Independent
Non-Executive& Independent
Non-Executive& Independent
Non-Executive
Salary & Perquisites
(Amount in Rupees)
12,00,000
Details of Remuneration paid to the Directors for the year ended 31.03.2013
* Mr. Syed Abbas Ali resigned as a Director and Mr. Tribhuwan Nath Tripathi was appointed as an Additional Director w. e. f. 20.07.2012.
Sr. No. Date of Board Meeting
1.2.3.4.5.
09.05.201214.08.201229.08.201208.11.201213.02.2013
Name of the Members Status No. of Meeting Attended
Mr. BHAGWAN N. BHARDWAJ
Mr. VAZIRALI G. LOKHANDWALLA
Mr. SAJJADHUSSEIN NATHANI
Chairman
Member
Member
555
1.
2.
3.
4.
5.
6.
Non-receipt of Share Certicate duly transferred / transmitted
Non-receipt of dividend warrants
Non-receipt of Demat Conrmation
Non-receipt of Annual Report
Non-receipt of Duplicate Share Certicate
Grievance Received through SEBI / Stock Exchanges
1
Nil
1
Nil
Nil
1
Nature of Complaints received during the year01.04.2012 to 31.03.2013
No. of Complaints
Received Resolved
1
Nil
1
Nil
Nil
1
1312
ii.) Composition
The Committee comprises of Managing Director & two Independent Directors viz. Shri. Bhagwan Bharadwaj (Chairman), Shri. Shaukatali S. Mewawala and Shri. Syed Abbas Ali (Members). On 20.07.2012 Shri. Syed Abbas Ali resigned and hence the committee was reframed by appointing Shri. Tribhuwan Nath Tripathi in his place.
The minutes of the Shareholders/Investors Grievance Committee meetings are circulated to the Board, and are discussed and taken note of by the Board.
iii.) The Details of the Shareholders / Investors Grievance Committee meeting held during the year 01.04.2012 to 31.03.2013
General Body Meetings: -
The details of the General Meeting that had been held during the last three nancial years are as follows: -
There was no occasion to pass special resolution through postal ballot on any of the matters specied under Clause 49 of the Listing Agreement. Further, no such proposal is proposed to be placed for the Shareholder's approval at the forthcoming Annual General Meeting.
Special Resolutions passed during the last three Annual General Meeting of the Company.
th thNo Special Resolution was passed at the, 27 & 28 Annual General Meeting of the Company. One Special resolution regarding the reappointment of
thManaging Director was passed at the 29 Annual General Meeting.
Disclosures:-
There was no non-compliance during the last three years by the Company on any matter related to Capital market. Consequently, there were no penalties imposed nor strictures passed on the Company by Stock Exchanges, SEBI or any statutory authority.
Means of communication
Quarterly Results of the Company are forwarded to Stock Exchanges where the Company's Shares are listed. The results are not individually sent to the Shareholders.
Code of Conduct
The Company has a code of conduct adopted by the Board of Directors and is applicable to Directors, senior management and employees of the Company.This Annual Report has a detailed chapter on Management Discussion & Analysis.
General Shareholder Information: -
15.06.2012
31.08.2012
14.09.2012
12.10.2012
28.12.2012
25.01.2013
01.03.2013
3
3
3
3
3
3
3
Date of MeetingNo. of Committee
Members AttendedCommittee Strength
3
3
3
3
3
3
3
VenueAGM-EGM
AGM
AGM
AGM
Year
2009-2010
2010-2011
2011-2012
Date
29.09.2010
21.09.2011
28.09.2012
Time
11.00 A.M.
11.00 A.M.
11.00 A.M.
150, Sheriff Devji Street, Mumbai 400 003
150, Sheriff Devji Street, Mumbai 400 003
150, Sheriff Devji Street, Mumbai 400 003
VenueYear
2012-2013
Date
30.09.2013
Time
11.00 Expo House, 150, Sheriff Devji Street, Mumbai 400 003
1514
Tentative Financial Calendar: -
Dates of Book Closure:rd thMonday, 23 September 2013 to Monday, 30 September 2013 (both days
inclusive).
Listing Details:The Company is listed only with Bombay Stock Exchange having stock code number as 526614. The Company has paid the Annual Listing Fees to Bombay Stock Exchange for the year 2013-14.
stMarket price Data: High/Low during each month for the year ended 31 March 2013
Registrar and Share Transfer Agents: - Adroit Corporate Services Pvt. Ltd.Contact Person: - Shri. S. Shetty
st19, Jaferbhoy Industrial Estate, 1 Floor, Makwana Road, Marol Naka, Andheri (E)Mumbai - 400 059Tel No: 28594442, 28594428 Fax No: 28503748
Particulars
Un-audited nancial results for the quarter ending 30.06.2013
Un-audited nancial results for the quarter ending 30.09.2013
Un-audited nancial results for the quarter ending 31.12.2013
Audited nancial results for the quarter ending 31.03.2014
Date
On 14.08.2013
On or before 15.11.2013
On or before 15.02.2014
On or before 30.05.2014
Month Mumbai Stock Exchange
Month’s High (Rs.) April 2012
May 2012
June 2012
July 2012
August 2012
September 2012
October 2012
November 2012
December 2012
January 2013
February 2013
March 2013
Month’s Low (Rs.) No. of Shares Traded7.50
7.47
6.27
7.66
7.21
6.09
6.59
7.82
7.49
13.15
14.50
12.85
6.44
5.23
5.41
5.75
5.77
4.91
5.23
5.24
5.76
6.10
10.97
8.56
35054
56620
26473
79322
103079
105392
81599
170764
121792
820392
652999
100781
1716
Dematerialization of Shares
Plant Location: - Expo Gas Containers LimitedA/10, MIDC, Murbad, Dist. Thane 421 401
Address for Correspondence: - For Investor Correspondence: -
Share Transfer System:
The Share transfer which are received in physical form are processed
and the share certicate are returned within a period of 15 days from the date of
receipt, subject to the documents being valid and complete in all aspects as the
company is doing.
Shares held in the dematerialized form are electronically traded in the
Depository. Physical Shares received for dematerialization are processed and
completed within a period of 15 days from the date of receipt, provided they
are in order in every respect. Bad deliveries are immediately returned to the
Depository Participants under advice to the Shareholders.
1.
2.
3.
4.
5.
6.
7.
Promoters, Relatives and Person acting in concert
Foreign Institutional Investors
Financial Institutions & Banks
NRI
Mutual Funds and UTI
Private Corporate Bodies
Public and Others
12826952
0
0
114591
400
762354
5332103
Name No. of SharesSr.No.
% of paidup capital
67.38
0.00
0.00
0.60
0.00
4.00
28.02
Total 19036400 100.00
Shareholding Pattern as on 31-03-2013
Distribution of Shareholding as on 31-03-2013
Upto 500
501 to 1000
1001 to 2000
2001 to 3000
3001 to 4000
4001 to 5000
5001 to 10000
10001 to 999999
7290
775
358
151
51
64
77
80
1272337
680943
587284
391325
186788
308593
588308
15020822
19036400
Upto 500
501 to 1000
1001 to 2000
2001 to 3000
3001 to 4000
4001 to 5000
5001 to 10000
10001 to 999999
7290
775
358
151
51
64
77
80
82.41
8.76
4.05
1.71
0.58
0.72
0.87
0.90
1272337
680943
587284
391325
186788
308593
588308
15020822
6.68
3.58
3.09
2.06
0.98
1.62
3.09
78.91
No. of SharesShareholding of Nominal Value (Rs.)
Grand Total 1008846 100
No. of Shareholders
Total% of
shareholdersTotal
% of sharecapital
As on 31.03.2013, out of 1,90,36,400 shares of the Company, 71,31,645 shares,
which constitute 37.46 % of share capital of the Company stands
dematerialized. Out of total 1,90,36,400 shares 1,12,50,000 shares are not listed.
Listing application is pending.
DepositoriesDescription
Fully Paid
ISIN No.
INE561D01025 1. National Securities Depository Ltd. (NSDL)
2. Central Depository Services (India) Ltd. (CDSL)
Expo Gas Containers Limited Expo House, 150 Sheriff Devji Street, Mumbai – 400 003 Tel: - 61319600 Fax : 23401635
Registrar and Share Transfer Agents: - Adroit Corporate Services Pvt. Ltd.19,Jaferbhoy Industrial Estate,
st1 Floor, Makwana Road, Marol Naka, Andheri (E), Mumbai - 400 059.Tel No:- 28594442, 28594428Fax No:- 2850 3748
1918
Auditor's Certicate on Compliance with the Corporate Governance
under clause 49 of the listing Agreement
To the Members of Expo Gas Containers Limited
We have examined the compliance of conditions of Corporate Governance by Expo Gas Containers Limited (“the Company”) for the year
stended on 31 March 2013 as stipulated in clause 49 of the listing agreement of the company with the stock exchanges.
The compliance of conditions of the corporate governance is the responsibility of the management. Our examination was limited to procedures and implementation thereof, adopted by the company, for ensuring the compliance of the conditions of the corporate governance. It is neither an auditor nor an expression of opinion on the nancial statements of the company.
In our opinion & to the best of the information & according to the explanations given to us, we certify that the company has complied with the conditions of the Corporate Governance as stipulated in the abovementioned listing agreement.
We state that in respect of investor grievances received during the year st
ended 31 March 2013, no investor grievances are pending for a period of exceeding one month except where disputed or subjudice as per the records maintained by the Company and presented to the Shareholders / Investor Grievance committee.
We further state that such compliance is neither an assurance as to the future viability of the company for the efciency or effectiveness with which the management has conducted the affairs of the company.
For Ketan N. Shah & Co., Chartered Accountants
Place : Mumbai Dated : 22.08.2013
MANAGEMENT DISCUSSION & ANALYSIS REPORT
The Indian Economy
The Indian economy during the year F.Y. 2013 has been facing turbulent times. The GDP growth rate has come down. The current account decit is at a high level. The exports are stagnant. The imports are rising. Ination is consistently at a higher level. The interest rates are also not showing any signs of coming down. Though the monsoon has been good, the ination is unlikely to come down, as weakening Rupee against US Dollar will add to the inationary pressures.
Industry Structure and Developments
Due to slow down in economy, and lack of condence among both domestic and foreign investors, large investments are held up. Large projects are also are not getting various government approvals and clearances. However, in all possibility, before elections we expect the projects to be cleared, changing the whole scenario for better.
Threat
With globalization, your Company cannot remain insulated of international developments. With expected developments of the western economies, Indian economy may be adversely affected. This can inuence prospects of growth of the Company. The high cost of funds and tight liquidity can also have adverse effect on operations of your company. Ability of oil and gas sectors to generate adequate surplus, in view of the administered prices, can also adversely affect the investment plans of these companies.
Outlook
The future scenario though looks challenging at present; there are opportunities across sectors and markets. Your company supplies equipment and operates in oil and gas, rening and petrochemical, fertilizer, power and process industries. India has also emerged as exporter of process plant equipments and with new projects in Gulf and Africa, there are good prospects
2120
(K. N. SHAH) Proprietor
Sd/-
internationally also. Weak Indian Rupee against US Dollar also makes India more competitive in export markets.
As of now your Company has a order book of about Rs. 75 crores. This is almost double of the order book position about one year ago. Barring unforeseen developments, your company should continue to grow at a reasonable rate in the foreseeable future.
Material Developments in Human Resources / Industrial Relations:
In a growing economy, there is always demand for more skilled and able workforce. The ability to recruit and retain talent is a challenge for managements of all growing companies. Your management is aware of the same and taking necessary steps to not only recruit new manpower, but train and retain the existing one. The Company also recruits trainee engineers and prepares them for more responsibilities in the times to come.
Industrial relations were cordial in all division throughout the year under review.
Quality System:
The Company is ISO 9001 certied by Bureau Veritas and approved holder of “U” stamp from ASME U.S.A., R Stamp & NB Stamp.
Internal Control System
The Company maintains adequate internal control systems, which provide among other things, reasonable assurance of recording the transactions of its operations in all material respects and of providing protection against signicant misuse or loss of company assets. The Company also follows an exhaustive budgetary control and standard costing system. Moreover, the Management team regularly meets to monitor expectations and budgeted results and scrutinizes reasons for deviations in order to take necessary corrective steps. The Audit Committee, which meets at regular interval, also reviews the internal control systems with the Management and the Internal Auditors. There are clear demarcation of roles and responsibilities at various levels of operations. The Company's internal control system is
further strengthened by continuous periodical internal audit system and Review at the Board level. The internal audit is conducted at regular intervals at various locations of the Company and covers all the key areas. All audit observations and follow up actions are discussed with the Management as also the Statutory Auditors and the Audit Committee reviews them regularly.
Safety, Health and Environment
Safety, Health and Environment is a core value for your Company. Simply stated your Company's goals are: no accidents, no harm to people and no damage to environment. The Company's success owes to the health, safety & security of everyone who works for them. The health and medical services are accessible to all employees through well equipped occupational health centers at all manufacturing facilities. Safety and security of personnel, assets and environmental protection are also on top of the agenda of the Company at its manufacturing facilities.
Clean environment and sustainable development integrated with the business objective is the focus of operations of the Company. The projects and activities are planned and designed with environment protection as an integral part to ensure a safe and clean environment for sustainable development.
The company proposes to go for OSHAS certication in future.
Cautionary Statement:
The statements in this Managements Discussions & Analysis describing the Company's objectives, projections, estimates, expectations and predictions which may be “forward looking statements” within the meaning of the applicable securities laws and regulations. The annual results can differ materially from those expressed or implied, depending on the economic conditions, Government Policies and other incidental factors and developments.
2322
b) In our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of books.
c) In our opinion, the Balance Sheet and Prot and Loss account dealt with by the report are in agreement with the books of accounts.
d) On the basis of written representation received from the Directors, as ston 31 March, 2013 and taken on record by the Board of Directors, none
stof the Directors is disqualied as on 31 March, 2013 from being appointed as a Director in terms of Clause (g) of sub section (i) of Section 274 of the Act.
e) In our opinion, subject to accounting treatment in respect of transactions discussed in the notes to the accounts viz: Note No:- 2.28 regarding non-provision of leave encashment and gratuity liability the amount of which is unascertainable, the Balance Sheet and Prot and Loss Account dealt with by this Report are in compliance with the accounting standards referred to in section 211(3C) of the Companies Act, 1956 in so far as they apply to the Company.
f) In our opinion and to the best of our information and according to the explanations given to us, the said nancial statements together with the notes thereon and attached statements , given in the prescribed manner the information required by the Act and give a true and fair view in conformity with the accounting principles generally accepted in India.
1. In the case of the Balance sheet of the state of affairs of the company st
as at 31 March, 2013.
2. In the case of the Prot and Loss Account, of the prot for the year ended on that date.
For Ketan N. Shah & CO., Chartered Accountants
Place : Mumbai (K. N. SHAH) Dated :29.05.2013 Proprietor
AUDITORS' REPORT
To The Members,Expo Gas Containers Limited
1. We have audited the attached Balance Sheet of EXPO GAS CONTAINERS st
LIMITED, as at 31 March, 2013 and the related Prot and Loss Account for the year ended on that date annexed thereto which we have signed under reference to this report. These nancial statements are the responsibility of the Company's Management. Our responsibility is to express an opinion on these nancial statements based on our audit.
2. We have conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the nancial statements are free of material misstatements. An audit includes examining, on a test check basis, evidences supporting the amounts and disclosures in the nancial statements. An audit also includes assessing the accounting principles used and signicant estimates made by the Management as well as evaluating the overall nancial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
3. As required by Companies (Auditors' Report) Order, 2003 issued by Central Government of India in terms of Section (4A) of Section 227 Companies Act, 1956, on the basis of such checks of the books and records of company as we considered appropriate and according to the information and explanations given to us, we give in the Annexure a statement on the matters specied in paragraphs 4 and 5 of the said order.
4. Further to our comments in the Annexure referred to in Paragraph 3 above, we report that:
a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit.
Sd/-
2524
5 a) In our opinion and according to the information and explanations given to us, transactions that need to be entered into the register in pursuance of section 301 of Act have been entered in the said Register.
b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the Register maintained under section 301 of the Act have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.
6 The Company has not accepted any deposits from the public within the meaning of section 58AA of the Act and the rules framed there under.
7 In our opinion, the Company has no internal audit system at present. We are given to understand that the Company is in the process of appointing a suitable person.
8 The Central Government of India has not prescribed the maintenance of cost records under clause (d) of sub-section (i) of Section 209 of the Act for any of the products of the Company.
9 According to the records of the Company examined by us, in our opinion, the Company is generally regular in depositing undisputed statutory dues such as income tax, sales tax with the appropriate authorities in India.
st10. The Company has no accumulated losses as at 31 March, 2013 and has not incurred cash losses in the nancial year under report or in the immediately preceding nancial year.
11. As at the Balance Sheet date, the Company does not have any dues to any debenture holders.
12. The Company has not granted any loans and advances on the basis security by way of pledge of shares, debenture and other securities.
13. The provision of any special statute applicable to chit fund/nidhi/mutual benet fund/societies are not applicable to the Company.
14. In our opinion, the Company is not dealer or trader in shares, securities,
ANNEXURE TO AUDITOR'S REPORT
(REFERRED TO IN PARAGRAPH 3 OF THE AUDITORS' REPORT OF EVEN DATE TO THE MEMBERS OF EXPO GAS CONTAINERS LIMITED ON THE
STFINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH, 2013)
1 (a) The Company has maintained proper records showing full particulars including quantitative details and situation of xed assets.
(b) The xed assets of the company have been physically veried by the management during the year and no material discrepancies between the book records and the physical inventory have been noticed. In our opinion frequency of verication is reasonable.
(c) In our opinion, a substantial part of xed assets has not been disposed off by the company during the year.
2 (a) Inventory has been physically veried by the management during the year. In our opinion frequency of verication is reasonable.
(b) In our opinion, the procedure of physical verication of inventory followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.
(c) On the basis of our examination of the inventory records, in our opinion, the company is maintaining proper records of inventory. The discrepancies noticed on physical verication of inventory as compared to book records were not material.
3 The Company has taken unsecured loans from Companies, rms and other parties covered in the Register maintained under section 301 of the Act. The rate of interest and other terms and conditions of such loans are prima facie not prejudicial to the interest of the Company.
4 In our opinion, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purchase of inventory and xed assets and for the sale of goods. Further, on the basis of our examination of the books and records of the Company, carried out in accordance with the auditing standards generally
2726
debentures and other investments.
15. The Company has not given any guarantee for loans taken by others from banks or nancial institutions during the year.
16. The Company has received additional cash credit facility from bank during the year.
17. On the basis of an overall examination of the Balance Sheet of the Company, in our opinion, there are no funds raised on a shot-term basis which have been used for long-term investment, and vice versa.
18 The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act during the year.
19. The Company has not issued any debentures.
20. The warrants converted into equity shares are not listed on BSE till date. The company has however preferred an appeal in SAT.
21. During the course of our examination of the books and records of the Company, carried out in accordance with the auditing standards generally accepted in India, We have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management.
For Ketan N. Shah & CO. Chartered Accountan
Place : Mumbai (K. N. SHAH) Dated : 29.05.2013 Proprietor
Sd/-
Sd/- Sd/- Sd/-
EXPO GAS CONTAINERS LTD.BALANCE SHEET AS AT 31st MARCH, 2013
Particulars NoteNo.
As at 31st March, 2013
As at 31st March, 2013
SHAREHOLDERS’ FUNDS
EQUITY AND LIABILITIESI
(1)
(1)
(2)
(2)
(3)
II
NON-CURRENT LIABILITIESLong-Term Borrowings
CURRENT LIABILITIES
NON-CURRENT ASSETS
CURRENT ASSETS, LOANS & ADVANCES
TOTAL LIABILITIES
TOTAL ASSETS
ASSETS
Share CapitalReserves & Surplus
2.12.2
2.3
2.42.52.6
2.72.82.9
2.102.112.122.13
1 & 2
Short-Term BorrowingsTrade PayablesShort-Term Provisions
(a) Fixed Assets(b) Non-Current Investments Deferred Tax Assets
As per our report attached
SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS
76,145,60068,843,234
144,988,834
163,581,74660,154,04015,208,673
238,944,459
85,488,16125,000
51,998,814
137,511,975
160,874,433114,840,44110,114,74531,604,222
317,433,841
454,945,817
454,945,817
71,012,524
71,012,524
76,145,60060,075,444
136,221,044
220,987,26573,558,72813,735,441
308,281,435
92,430,56425,000
54,109,742
146,565,306
163,576,552119,560,37510,351,09228,690,938
322,178,957
468,744,263
468,744,263
24,241,785
24,241,785
KETAN N. SHAH & CO.(Chartered Accountants)
K. N. SHAH(Proprietor)
SHAUKATALI S. MEWAWALA(Chairman & Managing Director)
S. M. NATHANI(Director)
2928
Place : MumbaiDate : 29.05.2013
Place : MumbaiDate : 29.05.2013
Place : MumbaiDate : 29.05.2013
EXPO GAS CONTAINERS LTD.PROFIT & LOSS A/C FOR THE YEAR ENDED 31st MARCH, 2013
Particulars NoteNo.
As at 31st March, 2013
As at 31st March, 2013
I
II
III
IV
a.
b.
c.
d.
e.
f.
IV
V
VI
VII
VIII
Total Revenue
Expenses
Sales
Other Income
Total Expenses
Prot before tax
Tax Expenses
Prot / (Loss) for the period
Earnings per equity share
2.14
2.15
2.16
2.17
2.18
2.19
2.7
2.20
Raw Material Consumed
Increase/(Decrease) in WIP
Employees Costs
Financial Expenses
Depreciation
Other Expenses
Current TaxEarlier Year TaxDeferred Tax
(1) Basic(2) Diluted
As per our report attached
351,127,659
123,175,516
(13,901,150)
36,294,025
27,724,988
7,818,627
158,065,419
1,565,314
352,692,973
339,177,424
13,515,549
8,767,790
2,704,157
(67,326)
2,110,928
0.460.46
322,755,867
142,627,686
(51,979,332)
27,671,385
35,850,313
7,802,363
147,144,145
493,840
323,249,707
309,116,561
14,133,147
17,565,668
2,895,051
215,297
(6,542,869)
0.920.92
KETAN N. SHAH & CO.(Chartered Accountants)
K. N. SHAH(Proprietor)
Place : MumbaiDate : 29.05.2013
SHAUKATALI S. MEWAWALA(Chairman & Managing Director)
S. M. NATHANI(Director)
Place : MumbaiDate : 29.05.2013
Place : MumbaiDate : 29.05.2013
1) SIGNIFICANT ACCOUNTING POLICIES
1.1 Basis of Accounting: -
The accounts are prepared in accordance with the Historical Cost Convention and on the basis of a going concern with revenue recognized and expenses accounted on accrual basis.
1.2 Sales: -
A) Sales of manufacturing items are accounted inclusive of excise duties and sales tax.
B) Sales include billing of Project work on the basis of stipulations specified in each contract. Thus the company does not follow AS-7 as laid down by Institute of Chartered Accountant of India.
1.3 Retirement Benefits:-
A) Retirement benefit in the form of provident fund are accounted on accrual basis.
B) The Company has accounted gratuity & leave encashment liability on cash basis.
1.4 Depreciation:-
A) Depreciation on Fixed assets has been provided on Straight Line Method (SLM) at the rates specified in the Schedule XIV of the Companies Act, 1956.
EXPO GAS CONTAINERS LTD.
SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO ACCOUNTS: -
3130
Sd/- Sd/- Sd/-
B) In respect of assets acquired/sold/discarded during the year, Depreciation has been provided on a pro-rata basis with reference to the year, each asset was put to use during the year.
1.5 Fixed Assets:-
All Fixed assets are stated at cost of acquisition less accumulated depreciation.
1.6 Inventories:-
Stores and components - At cost Raw material - At cost Work in Progress - At Estimated cost. Scrap - At realizable value.
1.7 Deferred Sales Tax:-
The Company values it obligation for deferred sales tax on net present value basis.
1.8 Income Tax:-
The Current year tax has been determined on the basis of Minimum Alternate Tax (MAT) liability under section 115 JB of the Income Tax Act, 1961.
-----------------------------------------------------------As per our report attached.
For Ketan N. Shah & Co., SHAUKATALI S. MEWAWALAChartered Accountants (Chairman & Managing Director)
Ketan N. Shah Proprietor
Place: - Mumbai S. M. NATHANIDated: - 29.05.2013 (Director)
Particulars Terms of Last As at As at
Repayment EMI 31st March, 2013 31st March, 2012
The Saraswat Co-operative Bank Ltd (Term Loan) 36 Months Oct 2012 - 8,573,841
The Saraswat Co-operative Bank Ltd (Term Loan II) 53 Months Mar 2015 4,090,403 6,299,058
The Saraswat Co-operative Bank Ltd (Term Loan III) 53 Months Mar 2015 6,134,309 9,368,886
The Saraswat Co-operative Bank Ltd - 60,787,812 -
(O/D against Immovable Property)
TOTAL 71,012,524 24,241,785
EXPO GAS CONTAINERS LTD. 2 NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH
Particulars As at As at
31st March, 2013 31st March, 2012
Authorised
20,000,000 Equity Shares of Rs. 4/- each 80,000,000 80,000,000
Issued, Subscribed & Paid up
1,90,36,400 Equity Shares of Rs. 4/- each 76,145,600 76,145,600
1) The Capital has been reduced from Rs. 77,864,000/- comprising
of 7,786,400 equity shares of Rs. 10/- each to Rs. 31,145,600/-
comprising of 7,786,400 equity shares of Rs. 4/- each.
2) 45,00,000 warrants has been converted into 1,12,50,000
equity shares of Rs. 4/- each making the total capital to
Rs. 76,145,600/- comprising of 1,90,36,400 equity shares
of Rs. 4/- each
TOTAL 76,145,600 76,145,600
2.1 SHARE CAPITAL
Particulars As at As at
31st March, 2013 31st March, 2012
Capital Reserve 4,236,400 4,236,400
Securities Premium 10,297,205 10,297,205
Profit and Loss Account
Opening Balance 45,541,839 27,976,171
Add : Transferred during the year 8,767,790 17,565,668
Closing Balance 54,309,629 45,541,839
TOTAL 68,843,234 60,075,444
2.2 RESERVES & SURPLUS
2.3 LONG-TERM BORROWINGS
Note : The Saraswat Co-operative Bank Ltd. - Term Loans are secured against movable and immovable properties.
3332
Sd/-
Sd/-
Sd/-
Particulars As at As at
31st March, 2013 31st March, 2012
i From Banks
- The Saraswat Co-operative Bank Ltd 108,100,207 104,801,305
Note : The Saraswat Co-operative Bank Ltd. - Cash Credit are
secured against Hypothecation of stock and debtors.
ii From Group Concern 16,250,830 31,799,782
iii From Others 39,230,709 84,386,178
TOTAL 163,581,746 220,987,265
2.4 SHORT-TERM BORROWINGS
2.6 SHORT TERM PROVISIONS
Particulars As at As at
31st March, 2013 31st March, 2012
Provision for Income Tax 8,087,909 5,451,078
Othr Provisions 7,120,763 8,284,363
TOTAL 15,208,673 13,735,441
Particulars As at As at
31st March, 2013 31st March, 2012
For Expenses 21,216,826 32,422,882
For Goods 38,937,214 41,135,847
TOTAL 60,154,040 73,558,728
2.5 TRADE PAYABLES
3534
EXPO GAS CONTAINERS LTD.
Particulars As at As at
31st March, 2013 31st March, 2012
Shares with The Sarawat Co-operative Bank Ltd 25,000 25,000
TOTAL 25,000 25,000
2.8 NON-CURRENT INVESTMENTS
2.9 DEFERRED TAX
Income Tax is provided on the taxable income determined as per Income Tax Laws. Deferred Tax Assets / Liabilities is recorded for timing difference as per Accounting Standard 22 issued by the Institute of Chartered Accounts of India and accordingly the Company has recognized a Deferred Tax Assets, the detailed break up of which is as follows :
Particulars As at As at
31st March, 2013 31st March, 2012
Deferred Tax Assets
i Unabsorbed Losses & b/f depreciation 64,004,634 64,808,491
ii Provision for deferred Sales tax 2,032,577 5,718,948
66,037,211 70,527,439
Deferred Tax Liabilities
On account of timing difference in Depreciation 14,038,397 16,417,697
14,038,397 16,417,697
TOTAL 51,998,814 54,109,742
Particulars As at As at
31st March, 2013 31st March, 2012
(As Certified by Management)
Stores And Spares 7,536,436 10,299,557
Raw Materials 7,632,532 21,472,680
Work in process 145,705,465 131,804,315
TOTAL 160,874,433 163,576,552
2.10 INVENTORIES
2.11 TRADE RECEIVABLES
Particulars As at As at
31st March, 2013 31st March, 2012
(Unsecured and considered good
but subject to confirmation)
Debts Over six months 10,510,294 10,088,945
Other Debts 104,330,147 109,471,430
TOTAL 114,840,441 119,560,375
Particulars As at As at
31st March, 2013 31st March, 2012
i Cash in hand 392,789 543,525
ii With Scheduled Banks on Current Account (60,595) (1,958,427)
iii Fixed Deposit with Banks 9,782,551 11,765,994
TOTAL 10,114,745 10,351,092
2.12 CASH AND CASH EQUIVALENTS
Particulars As at As at
31st March, 2013 31st March, 2012
Income Tax & TDS 9,814,167 6,662,285
Deposits 5,024,642 6,519,988
Others 16,765,413 15,508,664
31,604,222 28,690,938
2.13 SHORT TERM LOANS AND ADVANCES
TOTAL
Particulars Year ended Year ended
31st March, 2013 31st March, 2012
Contracts 138,190,015 113,249,958
Pressure Vessels 212,187,568 208,590,525
Scrap 750,076 915,385
351,127,659 322,755,867
Inclusive of Excise Duty 11,485,298 6,416,178
2.14 SALES
3736
Particulars Year ended Year ended
31st March, 2013 31st March, 2012
Interest from Bank 1,299,213 407,290
Dividend Income 5,000 5,000
Interest from Income-tax - 51,730
Interest from other than Bank 32,101 29,820
Other Income 229,000 -
1,565,314 493,840
2.15 OTHER INCOME
2.16 RAW MATERIAL CONSUMED
Particulars Year ended Year ended
31st March, 2013 31st March, 2012
Opening Stocks 131,804,315 79,824,983
Less : Closing Stocks 145,705,465 131,804,315
Increase/Decrease in Stock (13,901,150) (51,979,332)
2.17 INCREASE/(DECREASE) IN WORK IN PROGRESS
2.18 EMPLOYEE COST
Particulars Year ended Year ended
31st March, 2013 31st March, 2012
Employers Contribution to P.F. etc 1,360,384 159,606
Payment to Employee 32,699,063 26,315,275
Welfare Expenses 2,234,578 1,196,505
36,294,025 27,671,385
2.18 EMPLOYEE COST2.18 EMPLOYEE COST
2.19 FINANCIAL EXPENSES
Particulars Year ended Year ended
31st March, 2013 31st March, 2012
Carriage Inward 3,785,415 3,906,743
Carriage Outward 11,131,546 7,243,478
Clearing & Forwarding 26,047 406,240
Components,Consumables,Stores & Spares 5,750,068 3,056,406
Commission Expenses 200,000 447,750
Duties & Taxes 8,482,723 13,379,284
Electricity Power & Fuel 3,123,414 2,950,678
Hire Charges 7,694,085 9,033,639
Inspection Fees 1,678,578 2,993,353
Labour Job Expenses 87,953,108 79,675,558
Testing Fees 4,912,628 4,018,334
Advertisements & Publicity 164,000 11,000
Audit Fees 375,000 210,000
Fees,Books & Periodicals 638,411 160,255
Membership & Subscription 274,705 294,045
Others 10,962,088 10,699,303
Postage, Telephone, Telex 1,221,939 865,272
Printing & Stationery 1,076,691 1,020,968
Professional Fees 3,187,594 2,658,093
Rent, Rates & Taxes 1,709,387 1,139,546
Repairs & Maintenance 164,741 348,384
Travelling & Conveyence 2,153,144 2,043,169
Vehicle Expenses 1,400,107 582,647
158,065,419 147,144,145
2.20 OTHER EXPENSES
3938
EXPO GAS CONTAINERS LTD.
2.21 a) Estimated amount of Contract remaining to be executed on Capital Account and not provided for b) O/s. Bank Guarantee
2.22 Contingent Liabilities not provided for:
Current Year(Rs.)
Nil
48,564,516
Previous Year(Rs.)
Nil
29,639,252
1) Claims against the company not acknowledge as debts. 2) Bank Guarantee 3) In respect of Salex Tax
Current Year
(Rs.)
Nil
51,435,484
13,803,058
Previous Year
(Rs.)
Nil
70,360,748
7,338,705
2.23 Excise duty charged to prot and loss account during the year is net of MODVAT.
2.24.1 Expenditure in Foreign Currency on account of
Travelling
Import Purchase
2.24.2 Earning in Foreign Exchange by way of Exports of
Goods
Current Year
(Rs.)
262,398
Nil
Nil
Previous Year
(Rs.)
93,306
13,861,499
Nil
2.25 The Company had allotted 45,00,000/- Convertible Warrants to be
converted at the option of the holder into one equity share of Rs. 10/-
each in accordance with the SEBI Guidelines & approval of
shareholders in the Extra-ordinary General Meeting held on 2nd
March, 2009. Further, the shareholders of the Company at their meeting
held on 11th June, 2009 reduced the face value of the equity shares from
Rs. 10/- per share to Rs. 4/- per share and the same was sanctioned by
the Hon’ble Bombay High Court vide its order dated August 11, 2009. On May 18, 2010 considering the reduction in face value of the
equity shares from Rs. 10/- to Rs. 4/- and exemption granted to the
acquirer from Takeover Regulations of SEBI, the Company converted
the above 45,00,000 warrants of Rs. 10/ each into 1,12,50,000 Equity Shares of Rs. 4/- each. The Company made the application to the BSE on May 26, 2010 for listing of 1,12,50,000 equity shares of Rs. 4/- each issued to the promoter group company. However, at the meeting of the BSE Committee held on April 28, 2011 the Committee rejected the a b o v e l i s t i n g a p p l i c a t i o n v i d e l e t t e r N o . DCS/PREF/SI/PREF/201/2011-12. The Company has made an re-application to SEBI, which in it's letter dated 17th Feb, 2012 referred the matter back to BSE. Owing to the above stand taken by SEBI, the Company moved to SAT and subsequently the matter is under hearing in SAT.
2.26 The Company does not have information regarding of its supplier who is Small Scale Industrial Undertakings and hence, the required information has not been furnished. However, the Company has not received any claim from any party for payment of any interest.
2.27 Sundry Debtors & Creditors are subject to conrmation.
2.28 No provision has been made in respect of liability for gratuity & earned leave due to employees as required by Accounting Standard - 15 of the ICAI. In the absence of actuarial valuation, it is not possible to quantify the amount by which the Prot of the Company will be affected.
2.29 The Company is principally engaged in Metal fabrication and is managed as one entity governed by the same set of risks and return, hence there are no separate reportable segment as per Accounting Standard - 17 on Segmental Reporting issued by the Institute of Chartered Accountant of India.
2.30 Related Party Disclosures: - A. Names of Related Parties and description of relationship: - 1. Associate Companies : Expo Project Eng. Services Private Limited, Arabesques Investments Private Limited, Bianca Investments Private Limited, L. Ebrahim Haji Sheriff & Co Private Limited, K.S. Shivji & Company, Steelex Corporation, Expo India Agencies.
II. Key management personnel and relatives : Mr. S. S. Mewalwala
4140
EXPO GAS CONTAINERS LTD.CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH, 2013
31.03.2013Rupees
31.03.2012Rupees
As per our report attached
KETAN N. SHAH & CO.(Chartered Accountants)
K. N. SHAH(Proprietor)
Place : MumbaiDate : 29.05.2013
SHAUKATALI S. MEWAWALA(Chairman & Managing Director)
S. M. NATHANI(Director)
Place : MumbaiDate : 29.05.2013
Place : MumbaiDate : 29.05.2013
2.32 Auditors Remuneration :
Auditors Fees
2.33 Managerial Remuneration paid/payable
to Directors:
Managing/Whole-Time/Marketing Directors
- Salaries
2.34 Figures of the previous year have been regrouped and rearranged
wherever necessary.
B. Nature of transaction with Associates and Key Management Personnel (Rs. in Lacs)
2.31 Earning per share The basic and diluted EPS is calculated as under : -
Profit / (Loss) attributed to Equity Shareholders (Rupees) 8,767,790 17,565,668
No. of Equity Shares of Rs. 4/- each 19,036,400 19,036,400
Earning per Share (Rs.) 0.46 0.92
Current Year(Rs.)
3,75,000
1,200,000
Previous Year(Rs.)
2,10,000
1,200,000
For Ketan N. Shah & Co.Chartered Accountants
Ketan .N.ShahProprietor
Place : MumbaiDated : 29.05.2013
SHAUKAT S. MEWAWALA(Chairman & Managing Director)
S. M. NATHANI(Director)
4342
CASH FLOW FROM OPERATING ACTIVITIESNet Prot / (Loss) before Tax and extra-ordinary items
Operating Prot / (Loss) before Working Capital changes adjustment for
Cash generated from Operations
CASH FLOW FROM INVESTING ACTIVITIES
NET CASH USED IN INVESTING ACTIVITIES
NET CASH FROM OPERATING ACTIVITIES
Depreciation
Inventories
Sundry Debtors
Loans and Advances
Current Liabilities & Provisions
Less : Current Year Tax
Excess Provision of Tax Earlier Year
Purchase of Fixed Assets
13,515,549 14,133,147
2,702,119
4,719,934
(2,913,284)
(11,931,457)
(64,035,860)
23,865,431
(13,684,494)
(4,015,690)
2,704,157
67,326
2,895,051
(215,297)
(876,224) (4,843,948)
7,818,627 7,802,363
21,334,176 21,935,510
13,911,488 (35,935,104)
(876,224) (4,843,948)
11,274,657 (39,045,452)
CASH FLOW FROM FINANCING ACTIVITIES
NET CASH USED IN INVESTING ACTIVITIES
Short Term Borrowings
Proceeds from Long Term Loans
(57,405,521)
46,770,739
58,708,055
(13,804,623)
(10,634,782) (44,903,432)
Net increase in Cash & Cash Equivalents
Cash & Cash Equivalents, beginning of period
Cash & Cash Equivalents, end of period
(236,347)
10,351,092
1,014,033
9,337,059
10,114,745 10,351,092
Sd/-
Sd/-
Sd/- Sd/- Sd/-
Sd/-
PART IV
BALANCE SHEET ABSTRACT AND COMPANY’S GENERALBUSINESS PROFILE
I Registration Details State Code : 1 1
Registration No. : 0 2 7 8 3 7
Balance Sheet Date: 3 1 0 3 2 0 1 3Date Month Year
II Capital raised during the year (Amount in Rs. Thousands)
Public Issue Rights Issue
- -
Bonus Issue Private Placement
- -
III Position of Mobilisation and deployment of Funds (Amount in Rs. Thousands)
Total Liabilities Total Assets4 5 4 9 4 6 4 5 4 9 4 6
Equity and Liabilities
Paid up Capital Reserves & Surplus7 6 1 4 5 6 0 0 7 5
Long term borrowings Short term borrowings7 1 0 1 2 1 6 3 5 8 2
Current Liabilities7 5 3 6 3
Assets
Net Fixed Assets Investments
8 5 4 8 8 2 5
Current Assets Misc. Expenditure
3 1 7 4 3 4 N I L
Accumulated Losses
N I L
IV Performance of Company (Amount in Rs. Thousands)
Turnover Total Expenditure3 5 2 6 9 3 3 3 9 1 7 7
+ - Profit/Loss before tax + - Profit/Loss after tax+ 1 3 5 1 6 + 8 7 6 8
(Please tick Appropriate box + for Profit , - for Loss)
Earning per Share in Rs. Dividend rate %
+ 0 . 4 6 - -
V Generic Names of Three Principal Products/Services of Company (as per monetary terms)
Item Code No.(ITC Code)
Product P R E S S U R E V E S S E L SDescription
Item Code No.(ITC Code)Product S I T E E N G E N E E R I N G
Description
Item Code No.
(ITC Code)Product C O L U M N S A N D T O W E R SDescription
KETAN N. SHAH & CO. SHAUKATALI S. MEWAWALA : (Chartered Accountants) (Managing Director)
(K.N.SHAH) S. M. NATHANI :Proprietor (Director)
Place : Mumbai Place : Mumbai
Date : 29.05.2013 Date : 29.05.2013
4544
Sd/- Sd/-
Sd/-
PROXY FORM
EXPO GAS CONTAINERS LIMITED
Regd. Office: - Expo House, 150, Sheriff Devji Street, Mumbai – 400 003
DP ID* …………………… Master Folio No. ……………………
Client Id *…………………… No. of Shares held. ……………………
I / We …………………………………………………………………………………………… of ………………………………………… being a Member(s) of Expo Gas Containers
Limited hereby appoint Mr. / Ms.………………………………………………………………
of ………………………………… or failing him / her ………………………………………… of ……………………………………… as my / our proxy to vote for me / us on my / our
behalf at the 30th Annual General Meeting to be held on Monday, the 30th September
2013 at 11.00 A.M. or any adjournment thereof.
Signed this _________ day of _________________________ 2013.
Affix Rs.
1.00/- Revenue
Stamp
* Applicable for investor holding share(s) in electronic form
Note: - The proxy in order to be effective should be duly stamped, completed and signed and must be deposited at the Registered Office of the Company not less than 48 hours
before the scheduled time for the aforesaid meeting.
ATTENDANCE SLIP
EXPO GAS CONTAINERS LIMITED Regd. Office: - Expo House, 150, Sheriff Devji Street, Mumbai – 400 003
Please fill attendance slip and hand it over at the entrance of the Meeting venue:
DP ID* …………………… Master Folio No. ……………………
Client Id *…………………… No. of Shares held. ……………………
I certify that a am a Member / Proxy for the Members of the Company.
I hereby record my presence at the 30th Annual General Meeting of the Company held
on Monday the 30th September 2013 at 11.00 A.M.
Members’ / Proxy’s name in Block Letters Signature of Member / Proxy
* Applicable for investor holding share(s) in electronic form